View Single Post
Old 01-04-2013, 11:58 AM
TomCopeland's Avatar
TomCopeland TomCopeland is online now
Business Author/Trainer
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 2,926
Default Grant income

Originally Posted by Abigail View Post
I received grants from the state and now sure which year to claim them in. The items were placed in order Dec. 28, 2012, but I received them January 3, 2013. It's $900 worth of merchandise. How do I handle this?
Report this as income in 2013. Then claim the business portion of this as an expense on your 2013 tax return.
Reply With Quote